Greed and FOMO explain why the biggest gains in the market are coming from companies without profits, according to Jeff Mortimer of BNY Mellon Wealth...

Livewire Equities

Livewire

Greed and FOMO explain why the biggest gains in the market are coming from companies without profits, according to Jeff Mortimer of BNY Mellon Wealth Management. Unprofitable companies such as Zynga Inc. and FireEye Inc. are leading gains in the Russell 1000 Index. The Nasdaq Biotechnology Index is up 25 percent in the past 10 weeks, the most since February 2012, data compiled by Bloomberg show. Less than a third of its 122 companies earned any money in the last 12 months. Marijuana shares, which trade on venues with less stringent reporting requirements, are among the most active. In this backdrop of human emotions, which begins to take over, it's one of greed, it's one of willing to pay for something that will happen in the future and being afraid that one might be left behind. (VIEW LINK)


2 topics

Livewire Equities
Livewire Equities
Livewire

The Livewire Equities feed brings you a range of insights that relate to Australian equities

Expertise

No areas of expertise

I would like to

Only to be used for sending genuine email enquiries to the Contributor. Livewire Markets Pty Ltd reserves its right to take any legal or other appropriate action in relation to misuse of this service.

Personal Information Collection Statement
Your personal information will be passed to the Contributor and/or its authorised service provider to assist the Contributor to contact you about your investment enquiry. They are required not to use your information for any other purpose. Our privacy policy explains how we store personal information and how you may access, correct or complain about the handling of personal information.

Comments

Sign In or Join Free to comment